https://www.taxtmi.com/caselaws?id=279569 The Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for exemption under Section 54 of the Income-tax Act. The Tribunal concluded that the transfer of 30% undivided share of land to the developer for construction purposes was considered an investment by the assessee, allowing for exemption under Section 54 for the relevant assessment year. The Tribunal's decision was based on the interpretation of the joint development agreement and the timing of the transfer of property. en-us Wed, 31 May 2017 00:00:00 +0530 Tue, 26 Mar 2019 06:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279569 The Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for exemption under Section 54 of the Income-tax Act. The Tribunal concluded that the transfer of 30% undivided share of land to the developer for construction purposes was considered an investment by the assessee, allowing for exemption under Section 54 for the relevant assessment year. The Tribunal's decision was based on the interpretation of the joint development agreement and the timing of the transfer of property. Case-Laws Income Tax Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279569